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Fintech (Financial Technology)

Total questions: 22

Worksheet time: 12mins

Name
Class
Date
1.

What is the purpose of Fintech?

a)

make the most money possible for companies

b)

to improve and automate the delivery and use of financial services

c)

save customers the most money

d)

none of these

2.

Money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.

a)

profits

b)

retained earnings

c)

venture capital

d)

assets

3.

A digital cash system that uses cryptography to secure the exchange financial transactions.

a)

P2P lending

b)

Blockchain

c)

NBFC's

d)

Crypto-currency

4.

A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly.

a)

Venture Capital

b)

Blockchain

c)

Bitcoin

d)

NBFC's

5.

Which company could a business use to get working capital loans?

a)

Kabbage

b)

Affirm

c)

Lending Club

d)

Robinhood

6.

If you wanted mobile brokerage services, which company might you choose?

a)

Affirm

b)

Robinhood

c)

Kabbage

d)

Lending Club

7.

If you wanted a company that uses robo-advisor technology to recommend a portfolio and automate the investment process you might choose?

a)

Tala

b)

Robinhood

c)

Kabbage

d)

Betterment

8.

An institution that provides checking, a prepaid debit card and some form of savings account without the traditional brick-and-mortar building.

a)

Betterment

b)

Neobank

c)

Robinhood

d)

Lending Club

9.

If you wanted to transfer money to a family member or coworker, which company would you choose?

a)

Zelle

b)

Kabbage

c)

Tala

d)

Affirm

10.

What companies use to determine if a customer is likely to pay back borrowed money?

a)

Crypto score

b)

Robo-advisor

c)

FICO score

d)

Blockchain

11.

What is a potential downside of a NBFC?

a)

can't operate across state lines

b)

inconvenient to use

c)

unregulated by financial and state regulators

d)

too large

12.

According to the article you read, what percentage of people exclusively use digital banking services?

a)

<10%

b)

about 25%

c)

over 46%

d)

100%

13.

According to the article, what are the biggest barriers for integrating fintech business startups into traditional companies.

a)

cost

b)

differences in management

c)

location

d)

differences in culture

14.

Which company would appeal most to individuals with no or poor credit history, but wanting a loan?

a)

Tala

b)

Robinhood

c)

Betterment

d)

Zelle

15.

Select all of the following that help fintech companies be competitive with larger, more established companies?

a)

AI

b)

Chatbots

c)

Blockchains

d)

Robo-advisors

16.

A term used in the venture capital industry to describe a privately held startup company with a value of over $1 billion.

a)

cash cow

b)

unicorn

c)

stallion

d)

dead ringer

17.

Select all the broad categories of users for fintech.

a)

B2B for banks

b)

B2B for banks' business clients

c)

B2C for small businesses

d)

Consumers

18.

What age group is more likely to use fintech services?

a)

younger

b)

older

19.

Which of the following are potential problems for fintech companies?

a)

consumer access to technology

b)

changing regulatory environment

c)

attractiveness of products

d)

data security

20.

Blockchain technology has no disadvantages.

a)

True

b)

False

21.

Fintech companies heavily leverage new technologies to provide their services.

a)

True

b)

False

22.

Large and well-established financial service companies are not worried about fintech companies taking their customers.

a)

True

b)

False